January 2016 -=- Check In

Most people sit down and write out New Year's resolutions. Credit wise, what would be on your list?

I know you are all hard at work with your credit goals. Have you progressed as far as you hoped? Were there any unforseen expenses that cropped up and may have thrown you off schedule?

As a reminder, participation in these monthly checkins is optional, but encouraged. The goal is to help keep you on track, so feel free to post your progress updates here. This is a no-judge zone; feel free to say what's keeping you up at night or give yourself a kudo for having it all together.

Did you hit any potholes or speedbumps? Achieve some milestones, either small or mighty? Change your goals or add new ones?

Let us know how you're doing! Now that 2015 is behind us, can you see any improvements?

Re: January 2016 -=- Check In

I am incredibly excited to continue the progress that I started making last year. My scores as recently as 9/2015 were 501/459/447 respectively. As of today, my scores are 618/632/582. I learned that it is incredibly important to not have a high utilization on my cards, and so I will continue to do that this year. I am also excited about finally attacking my student loans to make a dent in them this year. I put them on hold for the last three months of the year so that I could bring the utilization on my cards down to zero while also building up a little savings. I just sent off my first payment this morning, which was more than what my minimium due was.

My goals for this year are to raise my credit score and finally get a card that I think will be good for earning points/miles. My dream card is an AMEX/Discover, so I will be working towards that this year.

Re: January 2016 -=- Check In

I am starting the new year on a ch13.. During the year, I will be concentrating on paying my bills mortgage on time each month and being debt free. My scores are all running the mid 500s. I will report often updates. KEEP ME STRAIGHT "FICO"

Re: January 2016 -=- Check In

I'm excited about continuing the progress I've made since joining the challenge in April 2014. Summary recap: Buy home in Bay area, pay off 30 year mortgage at least 10 years sooner, improve Fico score to 760-850 range, and not have more total debt for credit cards and students than I had the beginning of 2014. Total Debt was $39377.44 in Jan 2014. Credit card debt alone was $30,128.11.

Having met all my previous goals. My new challenge for 2016 is to pay off my new re-fi 15 yr mortgage at least 1 year sooner than Jan2031 and to keep cc debt below 20K.

The plan that I put together indicates that paying an extra $140 per month will pay off the mortgage 1 year early.

Re: January 2016 -=- Check In

After my divorce finalized last year, I was left with years of debt in my name. This month, I moved in with my parents for a year to help have the extra funds to pay down some debt! Started out January 1st with $27,362 in credit card debt (12 cards), $87,135 in student loan debt (just consolidated and started on the PSLF), and $1923 owed on my car.

Just this month, I was able to pay off my two smallest credit card balances. It's a small victory, but I am excited about having less bills and getting this debt under control. My student loans will not decrease very much, but I'm starting the PSLF program and in ten years should not have any loans to worry about.

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